📈 Musk vs. Altman: The AI Feud Heats Up

Advertise with us | Our Newsletters | Your Rewards

Good Morning!

Markets are climbing on rate-cut bets and Big Tech’s AI dominance, with the S&P 500 and Nasdaq hitting new records. Intel’s CEO got a surprise show of support from Trump, while CoreWeave shares slid despite surging revenue.

Elsewhere, the Musk–Altman feud is spilling into lawsuits and insults, and we’re diving into why your first $10k matters, how AI can stand in for an intern, and three ideas for truly understanding stocks.

Grab your Iced Latte and let’s get into it. ☕️ 👇️ 

Former Zillow exec targets $1.3T

The top companies target big markets. Like Nvidia growing ~200% in 2024 on AI’s $214B tailwind. That’s why the same VCs behind Uber and Venmo also backed Pacaso. Created by a former Zillow exec, Pacaso’s co-ownership tech transforms a $1.3 trillion market. With $110M+ in gross profit to date, Pacaso just reserved the Nasdaq ticker PCSO.

Invest for $2.90/Share

_{Paid advertisement for Pacaso’s Regulation A offering. Read the offering circular at invest.pacaso.com. Reserving a ticker symbol is not a guarantee that the company will go public. Listing on the NASDAQ is subject to approvals.}

Market News

📈 Futures climb as Fed rate cut bets surge after inflation data
U.S. stocks climbed after July inflation stayed at 2.7%, boosting expectations for a Federal Reserve rate cut in September. The S&P 500 and Nasdaq closed at record highs, while Dow futures also gained. Easing trade tensions added to market optimism.

🟩 Intel Jumps after CEO Meets With Trump
Intel’s CEO Lip-Bu Tan met with President Trump just days after Trump called for his resignation over alleged China ties. Following the meeting, Trump reversed course, praising Tan’s “amazing story” and signaling plans for follow-up discussions with his cabinet. The public turnaround marks a sharp change in tone between the two leaders and reassured Intel investors.

📉 CoreWeave Drops 10% after Big Losses
CoreWeave posted a strong $1.21 billion in Q2 revenue, well above expectations, driven by surging demand for its AI-focused cloud services and Nvidia-backed infrastructure. But investors recoiled from an unexpected deepened loss, over $290 million, amid soaring operating costs. CEO Michael Intrator flagged power and infrastructure constraints as key scaling challenges, even as the company boosts its full-year forecast and proceeds with its $9 billion Core Scientific acquisition plan.

🧑‍💻 Big Tech is driving the stock market to new records
Big Tech’s AI-powered surge is pushing U.S. indexes to fresh all-time highs, as mega-cap firms like Nvidia, Apple, Microsoft, and Meta continue to outperform the broader market, sending the S&P 500 and Nasdaq higher. Their dominance now shapes investor sentiment, overshadowing weaker sectors and reinforcing expectations of upcoming Fed rate cuts. Despite this strength, analysts caution that elevated valuations and concentration in a few names raise longer-term risk concerns.

😅 Musk-Altman rivalry devolves into lawsuit threats, insults in social media brawl
Elon Musk and Sam Altman’s AI rivalry just hit a new level, with both men taking shots at each other’s credibility. Musk accused Apple of antitrust behavior favoring OpenAI, vowing legal action, while Altman fired back, calling Musk’s claims hypocritical given alleged algorithmic manipulation on X. Even Musk’s own AI, Grok, sided with Altman, prompting ChatGPT to cheekily reply “good bot.” Their feud, brewing since Musk left OpenAI’s board in 2018, is now spilling into lawsuits, political influence battles, and even App Store rankings.

Invest & Strategies

💸 The First $10,000 is the Most Important
Nick Maggiulli argues that the very first $10,000 in wealth is the most life-changing, it marks your escape from living paycheck-to-paycheck and opens the door to greater financial freedom. This threshold fundamentally alters your financial resilience, behavior, and how you view money. It’s a start that matters more than any increment after.

🤖 Three projects I couldn’t have done without AI and what I learned
Stephen Clapham describes using AI tools as a substitute for an intern, handling tasks like summarizing transcripts, drafting meeting notes, and organizing research. He outlines where AI saves time, where it still falls short, and how it fits alongside human judgment.

🧠 3 Big Ideas for Understanding How Stocks Really Work
Rubin Miller explains that a stock’s price alone doesn’t tell the real story, market capitalization is the true measure of a company’s size and value. He highlights that even well-known firms might remain private while lesser-quality ones go public, so share price without context can be misleading. Understanding this distinction is essential for grasping how stocks actually work.

💹 The AI Spending Boom That’s Lifting Stocks
AI capital expenditure is now the dominant growth engine for both the stock market and the broader U.S. economy. Sam Ro highlights that the "Magnificent Seven" mega-cap tech giants, Nvidia, Microsoft, Apple, Alphabet, Amazon, Meta, and Tesla, aren’t merely seven companies but diversified conglomerates spanning hundreds of businesses. Though they make up roughly a third of the S&P 500 by market cap, their massive AI investments are fueling outsized gains, evidenced by AI capex outpacing consumer spending in terms of GDP growth contribution this year.

🗣️ You sound like ChatGPT
Researchers at the Max Planck Institute found that ChatGPT is shifting everyday language, especially in academic contexts. Words like “delve,” “meticulous,” “realm,” and “adept” have surged, up to 51% more usage, across 280,000 YouTube videos since the model’s launch. The study suggests that AI's polished tone is subtly infusing human speech.

Best of Twitter

Our Recommendations:

💻️ MEXC - Where we find and trade Crypto with low fees.
📈 TradingView - Software we use to chart stocks.
🔐 Trezor - Our favorite hardware wallet to keep our Crypto secure.
🦑 Kraken - Where we buy crypto with cash / withdraw profit to our bank.